Topic: KYC procedure in online casinos does more good than bad or the other way around? - page 12. (Read 2151 times)
March 16, 2019, 03:13:18 PM
KYC on crypto gambling site is not good for me, because gamblers want to remain anonymous and if there’s a KYC on any gambling site i think its not a good site for a gamblers. Remember that many gambling site don’t ask for any KYC so i think it will be the choice of the gambler.
March 16, 2019, 01:20:47 PM
Online casino and money laundering.
It is real and it happens. But how about our privacy?
What if I just dont want my wife to see that I am spending money to just gamble my way until I am totally broke?
I mean I have my own reasons for it.
Do you really want someone else to know that you are a gambler? I just want it to be kept for myself.
Better just help the authorities by telling them if you see one who does it.
But still at the end it should not be a mandatory to play bets requiring information about the player.
It is real and it happens. But how about our privacy?
What if I just dont want my wife to see that I am spending money to just gamble my way until I am totally broke?
I mean I have my own reasons for it.
Do you really want someone else to know that you are a gambler? I just want it to be kept for myself.
Better just help the authorities by telling them if you see one who does it.
But still at the end it should not be a mandatory to play bets requiring information about the player.
March 16, 2019, 12:41:53 PM
I don't like KYC, I like to have a complete freedom in online gambling.
Without KYC we can enjoy more as we are playing anonymously, so I believe that crypto gambling should not require KYC as that is only for fiat gambling.
That was a best rule before, but now we are slowly seeing some gambling sites already ask for your KYC. I also don’t want to expose my identity but if i see a great gambling site that is collecting KYC, i will still choose to play. Casinos also asking for your identity, especially those who have an online system where you will just use card as a cash.Without KYC we can enjoy more as we are playing anonymously, so I believe that crypto gambling should not require KYC as that is only for fiat gambling.
Many people choose online gambling because they want to remain anonymous. That's the only reason that they do not go to physical casino. If there is KYC, then their identity will be exposed and it will not be good for many gamblers. I think there is no reason for KYC in gambling websites and this will not be implemented.
March 15, 2019, 01:31:53 PM
I've read a lot of replies in some casino-related threads talking about how they hate KYC procedures. I get it they don't want all the hassle if giving personal info during registration, that they don't want complicated processes, esp. when withdrawing, and that they are afraid the casinos will exploit their players' details who provided their personal info. But perhaps some people think about KYC positively — like KYC reduces the risk of money laundering and protects the casinos from fraudulent players?
I'm not saying I am pro or against KYC. I really just want to get insights from different perspectives.
My view is that KYC is a rather annoying and nervous procedure. Not only because it takes time and kinda feels serious when you have to scan your ID and even made a photo of you holding that ID, but also because people mostly prefer to gamble privately. However, I agree that gamling seems a great opportunity to make one's money 'clean'. That's why I think that a fair thing to do is to establish the requirement of KYC at a certain amount of finances. If a person is gambling with a couple of dozens of dollars, it's clear it has nothing to do with money laundering. It is also probably so with hundreds of dollars as well. So I'd say if a person deposited more than 1btc with its current price and wants to withdraw at least 1btc, then KYC might make sense (although again, we should probably focus on something like 10btc+). But making small players give up their anonymity when they are clearly not doing anything terribly illegal - that's unfair. I'm not saying I am pro or against KYC. I really just want to get insights from different perspectives.
March 15, 2019, 12:34:33 PM
It has pros/cons but just like the rest of you guys, I hated KYC and if ever the favorite casino I've been playing will require me to submit my information, I guess I need to pass and go on the next trusted and reputable casino. So it's really up to us, some may succumb to KYC because they wanted to continue playing, but for majority of us, it's a no-no.
March 15, 2019, 12:11:53 PM
KYC has both benefits and negatives to it. I wouldn't play anywhere that asks for my KYC for sure, there is no way I am giving you my personal information, I would rather let my bitcoins go and never return there and consider that money gone and write horrible stuff about your casino for keeping my money in your casino without taking my information and I will start 100+ accounts on bitcointalk and give you 100 negative trust ratings and try to destroy your reputation for not giving me my money without KYC.
So, obviously as you can see I hate KYC as much as the next guy. However when it comes down to someone trying to steal your money if KYC could work out there and you can prevent someone from stealing your money and keep the possession of your money than it can benefit you in great way.
So, obviously as you can see I hate KYC as much as the next guy. However when it comes down to someone trying to steal your money if KYC could work out there and you can prevent someone from stealing your money and keep the possession of your money than it can benefit you in great way.
March 15, 2019, 09:48:25 AM
Getting the point of being anonymous that's why we used crypto to play online gambling, there's no sense of being anonymous anymore if we will need to provide our personal information, I'm not against KYC as it's also gives a high chance that casinos have a licensed that asking them this credentials to avoid money laundering.
March 15, 2019, 09:43:37 AM
There will be two different sides. For gamblers, this will be a complicated, time-consuming procedure and make them feel uncomfortable because most of them do not want to give true information about themselves. In contrast, for online casinos, implementing KYC can help them control negative and illegal behaviors.
March 15, 2019, 07:26:17 AM
Personally with or without KYC i think better to look in the worth where you play gambling like if this trusted already then with or without KYC i think that's good because we are secure in that then if they are new only i think study that little by little still i don't really trust if they are new and if they want KYC for me there's a lot of here that without KYC so use that than to give your personal data for verification
March 15, 2019, 08:14:16 AM
In my opinion, KYC, law enforcement, and the casino's reputation are closely related. I might feel okay if companies like Caesars, MGM, etc., need KYC, but surely not for random anonymous bitcoin casino.
Why? Because for reputable and legal companies, there is no (or little) probability that my KYC data would be misused.
Why? Because for reputable and legal companies, there is no (or little) probability that my KYC data would be misused.
March 15, 2019, 06:39:32 AM
I don’t like to fill any KYC form especially on gambling because I believe i should enjoy playing as an anonymous and i don’t want to be hack of course. There’s a lot of gambling site where you don’t need to fill up KYC better to play on that and I’m most of the trusted gambling sites don’t ask for any kyc.
March 15, 2019, 06:31:02 AM
I don't like KYC, I like to have a complete freedom in online gambling.
Without KYC we can enjoy more as we are playing anonymously, so I believe that crypto gambling should not require KYC as that is only for fiat gambling.
That was a best rule before, but now we are slowly seeing some gambling sites already ask for your KYC. I also don’t want to expose my identity but if i see a great gambling site that is collecting KYC, i will still choose to play. Casinos also asking for your identity, especially those who have an online system where you will just use card as a cash. Without KYC we can enjoy more as we are playing anonymously, so I believe that crypto gambling should not require KYC as that is only for fiat gambling.
March 15, 2019, 06:29:25 AM
Of course most of us chose playing with crypto because we wanted to be anonymous and we don't want to go the hassle of submitting our personal information. But the problem with some crypto related casino is that they are somewhat 'enforcing' KYC specially if you're going to withdraw a big amount.
Which for me defeats the purpose on why we are in crypto related casino in the first place, decentralized, (psuedo) anonymous. If that is the case then we might as well play in fiat-based, because it seems that there are no difference after all.
Which for me defeats the purpose on why we are in crypto related casino in the first place, decentralized, (psuedo) anonymous. If that is the case then we might as well play in fiat-based, because it seems that there are no difference after all.
March 15, 2019, 05:22:25 AM
The KYC can minimize the risk of money laundering, but we don't know if they will protect our data and not sell to the third party. When data is on the internet, we don't know if that data will be safe or not. That is why we don't like to fill KYC, and I think it's better to search a gambling website without using KYC.
Besides that, I think if we only want to play gambling, we don't need that KYC but if for the other business, maybe it is fine to fill the KYC. But still, I don't prefer to fill KYC.
Besides that, I think if we only want to play gambling, we don't need that KYC but if for the other business, maybe it is fine to fill the KYC. But still, I don't prefer to fill KYC.
March 15, 2019, 05:03:55 AM
WHen the owner of gambling site want to get more players for playing on their site then they will skip KYC because people want anonymity while gambling due to many reason and I don't think many sites were asking for too.Only you are asked to verify yourselves when there is something wrong with your account.
Then what are the main reasons why they are actually doing the KYC ? as far as I am concern it is because of the LAws being given by their LGU? maybe to track their payable taxes?
I am also thinking, can the KYC policy certifies a certain casinos fair policy as well? because it could only mean that if they follow rules given by the LGU then one of those might be the fair policy.
Unlike if you use gambling sites that are not certified. there is a good chance that this certain casino is operating illegally and bias as well?
March 15, 2019, 04:26:03 AM
WHen the owner of gambling site want to get more players for playing on their site then they will skip KYC because people want anonymity while gambling due to many reason and I don't think many sites were asking for too.Only you are asked to verify yourselves when there is something wrong with your account.
March 15, 2019, 03:43:13 AM
Crypto offering gamble with anonymous and if people have to submitting their personal data before starting gamble i think anonymous feature eventually don't exist anymore but besides that in my view people don't liked KYC because they fear the casinos eventually will abusing costumers datas and there is no guarantee those casinos will be honest to their costumers because every possibility will happend and with not submit our KYC to the casinos i think it will be decrease the risk from data abuse
That's also one of the reason why KYC is bad or good to gambling sites because it differs in every country where some country legalized gambling and other country gambling is illegal so gamblers have to deal with this problem to be able to gamble but some don't want to be anonymous and other want to be unknown for some reason. I also agree to pmalek for that statement which is true in some situation regarding the gamblers personal data safetiness. 
March 15, 2019, 03:19:39 AM
Crypto offering gamble with anonymous and if people have to submitting their personal data before starting gamble i think anonymous feature eventually don't exist anymore but besides that in my view people don't liked KYC because they fear the casinos eventually will abusing costumers datas and there is no guarantee those casinos will be honest to their costumers because every possibility will happend and with not submit our KYC to the casinos i think it will be decrease the risk from data abuse
March 15, 2019, 03:10:21 AM
There are two sides to every medal.
Casinos perform KYC to make sure that they know who is gambling on their site. Without KYC any minor could open an account and gamble. Online and offshore gambling is illegal in the US and the government doesn't allow US citizens to gamble online. That is why you can see that many online casinos don't accept US citizens.
On the other side people who don't want to do KYC want to remain anonymous. Maybe they even have something to hide - money laundering was mentioned by other users as one of the reasons. Underage gambling is another.
Casinos perform KYC to make sure that they know who is gambling on their site. Without KYC any minor could open an account and gamble. Online and offshore gambling is illegal in the US and the government doesn't allow US citizens to gamble online. That is why you can see that many online casinos don't accept US citizens.
On the other side people who don't want to do KYC want to remain anonymous. Maybe they even have something to hide - money laundering was mentioned by other users as one of the reasons. Underage gambling is another.
March 15, 2019, 02:58:45 AM
It's either good or bad for cryptocurrency gambling site. First, KYC can prevent money laundering and consume time to verify your account for their safety requirements. Second, KYC can be used to verify your account if it's you are the only person who has access to the account and no one else. It can be also use to recover an account proving that you own the account by giving personal data or doing a KYC.
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